Payment Schedule:
Payment Schedule is basically used to give the payment to vendor in particular installments.
For example I want to give the payment in sixth month of installments with fixed amount.
Go to: Accounts Payable -> Payment Setup -> Payment Schedule.
Here Fixed Quantity in allocation means fixed amount of installments.(you can explore the other options as well in that drop down).
Payment per means either you want to give the installments on daily basis or monthly or yearly.
Number of payments means you have to define number of installments. (this option will be enable if you select the fixed quantity option in the allocation drop down).
maximum amount and minimum amount means the maximum or minimum amount required to qualify to apply this payment schedule.
Sales tax and charge allocation means: giving the option to pay sales tax and charges either in first transaction or last transaction or proportionally in installments.
Now I will show you how we can use this payment journal in our payment schedule.
Goto: Accounts Payable -> Payments -> Payment Journal
Now select the payment journal and click lines in the action pain as you can see in the below image.
A new form will open where u can see the lines:
now select the transaction and than click on the settlement button as you can see in the above image.A new screen will open where u can see the un settled transactions like this.
No mark the transaction on which u want to apply the payment schedule and click on apply payment schedule as you can see in above image.
Now once you click the apply payment schedule a new window will open where you can apply the payment schedule.There two options you can manually create and apply the payment schedule based on amount and percentage or you can select the already created payment schedules.
Now once u click the payment schedule button it will ask you about the payment schedule that you want to apply like this.
Now when i select the payment schedule and click it divides the amount in six month equal installments.You can also divide the amount in percentage basis as well.
As you can see in the above image my amount is divided in six equal installments based on amount.
If you select percentage from the drop down than amount will be divide based on percentage not based on amount.
Now when i click OK button it will divide the transaction in six equal transactions with due date and under the same invoice as you can see in the below image.
As you can see in the above image payment amount is divided in six equal installments with the due date and same invoice number.
This was all related to creating and applying the Payment Schedule in Microsoft Dynamics 365 for Operations.
Thanks,
Muhammad Zahid
